Welcome to this week’s crypto market digest! We recap the most significant developments across the industry:
**1. Bitcoin Breaks Records:** Bitcoin surged past $124,000 for a new all-time high. Fueled by positive sentiment about September Federal Reserve rate cuts and the potential opening of 401(k)s to crypto assets, analysts anticipate further price gains toward the $150,000 milestone.
**2. Ether ETFs Boom:** US spot ETH ETFs saw a remarkable influx of capital with $729.1 million in a single day – the second-highest ever recorded! BlackRock and Fidelity played pivotal roles in driving this surge. This trend continues as ETH prices near cycle highs.
**3. Coinbase Experiences MEV Loss:** A technical glitch in a token approval process on Coinbase exposed users to a $300,000 loss due to MEV (Maximal Extractable Value) bots draining funds from a corporate wallet. The company swiftly contained the issue and revoked affected allowances.
**4. Google Play Wallet Regulations:** Starting October 29th, 2025, custodial wallets on Google Play will require appropriate licenses (MSB/MT in the US, CASP under MiCA in the EU). This regulatory update came after developer concerns were addressed by Google who clarified that self-custody wallets are exempt from these licensing requirements.
Stay informed and continue exploring the exciting developments within the cryptocurrency world!